CVB Financial Corporation (NASDAQ:CVBF) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• CVB Financial has a “Moderate Buy” consensus: four of five analysts rate the stock a buy, with an average 12-month price target of $26.25 versus its recent $22.19 price.
• The company slightly missed quarterly expectations, reporting $0.29 in earnings per share versus the $0.30 consensus and revenue of $179.43 million versus $184.62 million expected.
• CVB Financial maintains a quarterly dividend of $0.20, or $0.80 annually, representing a 3.6% yield; insider activity was mixed, with a director buying 20,000 shares while the COO sold 40,000.

CVB Financial Corporation (NASDAQ:CVBF - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $26.25.

CVBF has been the topic of a number of research reports. Raymond James Financial upgraded CVB Financial from a "market perform" rating to an "outperform" rating and set a $25.00 price target on the stock in a research note on Wednesday, July 1st. Piper Sandler lifted their price objective on CVB Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Weiss Ratings upgraded CVB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Stephens raised CVB Financial from an "equal weight" rating to an "overweight" rating and set a $27.00 target price on the stock in a research note on Thursday, August 6th. Finally, DA Davidson raised their target price on CVB Financial from $22.50 to $25.00 and gave the company a "neutral" rating in a report on Friday, July 24th.

CVB Financial Price Performance

Shares of CVBF opened at $22.19 on Monday. The firm has a 50-day simple moving average of $22.58 and a two-hundred day simple moving average of $20.93. The stock has a market cap of $3.91 billion, a PE ratio of 15.30 and a beta of 0.65. CVB Financial has a 1-year low of $17.94 and a 1-year high of $23.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.77 and a quick ratio of 0.77.

CVB Financial (NASDAQ:CVBF - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). CVB Financial had a return on equity of 9.21% and a net margin of 29.02%.The company had revenue of $179.43 million for the quarter, compared to analysts' expectations of $184.62 million. During the same period in the previous year, the business posted $0.36 EPS. As a group, analysts forecast that CVB Financial will post 1.72 EPS for the current year.

CVB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Thursday, July 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. CVB Financial's dividend payout ratio (DPR) is presently 55.17%.

Insider Buying and Selling

In other CVB Financial news, Director Brien Raymond V. O. III acquired 20,000 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of $22.77 per share, for a total transaction of $455,400.00. Following the completion of the acquisition, the director owned 85,780 shares of the company's stock, valued at approximately $1,953,210.60. This trade represents a 30.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David C. Harvey sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $22.94, for a total transaction of $917,600.00. Following the sale, the chief operating officer directly owned 98,149 shares in the company, valued at approximately $2,251,538.06. The trade was a 28.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd raised its position in CVB Financial by 8,940.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,989 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 1,967 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in CVB Financial in the fourth quarter worth approximately $42,000. Nykredit A S acquired a new position in CVB Financial during the 2nd quarter worth approximately $43,000. Larson Financial Group LLC increased its position in shares of CVB Financial by 288.9% in the 4th quarter. Larson Financial Group LLC now owns 2,411 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 1,791 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of CVB Financial by 40.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,407 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 695 shares in the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.

About CVB Financial

CVB Financial Corp is the bank holding company for Citizens Business Bank, a California-based commercial bank whose operations trace back to 1974. Headquartered in Ontario, California, the company provides a broad range of banking and financial services through its community-focused branch network. As a publicly traded company on the NASDAQ under the symbol CVBF, CVB Financial oversees strategic planning, corporate governance and long-term growth initiatives for its subsidiary.

The company's core business activities include commercial lending, real estate financing, equipment leasing and Small Business Administration (SBA) loan programs.

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